For Money to Serve Effectively as a Measure of Value,all

question 36

Multiple Choice

For money to serve effectively as a measure of value,all items must be valued in terms of comparable units.Which of the following characteristics of money does this statement reflect?

• A)Divisibility
• B)Durability
• C)Acceptability
• D)Stability
• E)Portability

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Definitions:

Quantity Demanded

The complete volume of a merchandise or service buyers intend to acquire at a determined price.

Equilibrium Price

The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market stability.

Quantity Demanded

The full extent of a good or service that shoppers are inclined and able to procure at a specified price level.

Quantity Supplied

The complete sum of a good or service that manufacturers are able and eager to provide at a certain price throughout an established duration.